Housepresso 26 September 21

All you need to know about the housing market this week in one quick hit

Death, taxes and now mortgages

It used to be said that the only certainties in life were death and taxes, but perhaps we should now add mortgages (or debt) to life’s certainties. UK Finance reported this week that more than half of new mortgage borrowers will still have a mortgage when they turn 65. However, is Later Life Lending a triumph for the financial services sector or a failure of it?

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Why equity release is a wolf in sheep's clothing

In our mind, equity release is a wolf in sheep's clothing. It is not as innocent as it at first appears. Traditional equity release is a debt secured on your home. In our view, it offers financial handcuffs rather than financial freedom. Equity release capitalises on the opportunity provided by poor pension provision coupled with rising house prices. We believe that there is a better, more equitable way. For many, the path of fractional ownership leads to a better destination than the debt-fuelled journey of traditional equity release.

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Housing transactions bounce back in August

Housing transactions bounced back quickly from their first dose of stamp duty holiday blues. The level of housing transactions in August was not far off their five year average of 101,000. This is positive news for the UK housing market, although August still benefits from a stamp duty holiday benefit.

There is still a Stamp Duty holiday on house prices up to £250,000 until the end of September 2021, when the Stamp Duty Tax threshold returns to its pre-pandemic levels of £250,000.

We expect to see housing transactions increase in September, the final spike of the pandemic stamp duty holiday, followed by another dip.

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Why Property Logbooks are a riveting read

A property logbook is a very useful tool for every home buyer, homeowner, home seller and landlord. It is a physical record of all the vital information about your home, think of it as the ultimate Wikipedia page – the source of all knowledge and insight about your home. Having one will probably save you time, energy, stress and money, why not try one, what's the worst that could happen?

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